Global insurer AXA has become the latest company to announce a move into Middlesbrough as part of a multimillion-pound regeneration.
Developer Ashall Projects will build a four-storey 40,000 sq ft Grade A office building on a vacant site near Melrose Street for AXA 海角视频.
The insurance company will move more than 450 staff from its operations in the Tees Valley into the new building – Six Centre Square – which is being funded and bought by the Tees Valley mayor and Combined Authority.
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Middlesbrough Council is also contributing a £2m grant to the project from of its Towns Fund allocation which was provided by the Government as part of the levelling up programme.
Construction will start early next year and is set to be completed in the first quarter of 2023.
Mark Ashall, director of Ashall Projects, said the go-ahead for Six Centre Square resulted from the strength of the partnership between the public and private sectors and their shared vision for the future of Middlesbrough.
“For many years the centre of Middlesbrough has not had the Grade A office space needed to attract employers offering attractive and well-paid office jobs. Centre Square has changed that and we will also see local businesses - shops, restaurants, bars and gyms - benefit from this influx of people with real spending power.
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“This is the next stage in the development of Middlesbrough as a professional services hub providing easy access for businesses serving both Teesworks, the nearby Central Government hub as well as the wider area. It is another game-changer alongside the launch of direct train services between Middlesbrough and London and the council’s bid for city status.”
Anna Fleming, chief operating officer at AXA 海角视频 Retail Insurance, said: “Relocating to Six Centre Square means we can provide a better working environment for staff by offering greater flexibility and a range of wellbeing solutions in a building which will lead the way in energy efficiency and sustainability. We’re proud to continue showing our support and commitment to Middlesbrough and its ongoing regeneration.”
Middlesbrough mayor Andy Preston said: “It’s another positive step forward - one of many. It’s great to be working with Ashall Projects, bringing really high-quality employers into the centre of Middlesbrough and this will be a further catalyst for more jobs and more opportunities. This is just the latest development we’re backing to show businesses that, whatever their needs, they can do it here and don’t have to go to a city Newcastle, Leeds or Manchester.”
Meanwhile, Breedon Group has signed a deal to move into 4,500 sq ft of newly refitted office space at No 1 DurhamGate, which sits at the entrance to DurhamGate.
Developer Arlington Real Estate has agreed letting terms with the national construction materials company and will carry out a fit-out for the firm.
Breedon Group, which is an AIM-listed company with its headquarters in Leicestershire, employs 3,500 of which 300 are based in the North East. Relocating from its current office in Raisby Quarry, Coxhoe, the facilities at DurhamGate will create much needed additional capacity for the business, which has grown significantly in the past year.
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